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10/13/2016

Ministry of Health, PPP Model Eskişehir City Hospital Project

Akfen İnşaat having undertaken the project, signed a project loan agreement worth € 344 million with Garanti Bank and İş Bank (Türkiye İş Bankası) with a back-payment option of 18 years

Akfen Holding’s Chairman of the Board Hamdi Akın: “Isparta, Eskişehir and Tekirdağ City Hospitals which we will put into life with the Public Private Partnership (PPP) model will be equipped with the state of the art technology conforming to the specifications of the Ministry of Health. We have almost reached the end in Isparta City Hospital which is one of the 3 hospitals which we have planned to complete with a total investment of TL 3 billion. We are completing the project 6 months before than the date we had planned.”

Akfen İnşaat has signed a project loan agreement worth € 344 million with a back-payment option of 18 years with Garanti Bank and İş Bank (Türkiye İş Bankası) for Eskişehir City Hospital of which the construction works were undertaken with the Public Private Partnership (PPP) model. The hospital with a capacity of 1081 beds is aimed to be delivered to the Ministry of Health at the end of 2017.

The hospital for which construction works were started within the current year will be among quite a few hospitals in the region with a capacity of 1081 beds, 264 poly-clinics and medical equipment with the state of the art technology at global standards. The hospital is aimed to be completed until the end of 2017 and be delivered to the Ministry of Health accordingly.

Akfen İnşaat undertook the construction works of 3 separate city hospital projects, namely Isparta, Tekirdağ and Eskişehir with the Public Private Partnership (PPP) model. It is being stated that an investment of TL 3 billion will be made for the 3 projects with a total capacity of 2,316 beds.

Akfen Holding’s Chairman of the Board Hamdi Akın: “We have almost reached the end in Isparta City Hospital. We are completing the project 6 months before than the date we had planned”

Akfen Holding’s Chairman of the Board Hamdi Akın delivering a speech during the signing ceremony for the agreement which both banks participated at a rate of 50 percent each, expressed his happiness of making a contribution to Turkey with modern hospitals with technological infrastructure and equipment by means of the City Hospitals that will be put into life with the Public Private Partnership (PPP) model. Akın made the following disclosure:

“We continue to display the deep rooted experience and the expertise of Akfen İnşaat in developing buildings with international standards also in the health care sector by means of the City Hospitals, as a company having undersigned large scale projects such as airports, residential buildings, natural gas pipelines, schools and power plants. Isparta, Eskişehir and Tekirdağ City Hospitals which we will put into life with the Public Private Partnership (PPP) model will be equipped with the state of the art technology conforming to the specifications of the Ministry of Health. We have almost reached the end in Isparta City Hospital which is one of the 3 hospitals which we have planned to complete with a total investment of TL 3 billion. We are completing the project 6 months before than the date we had planned. The project which we have planned to deliver to the Ministry of Health until the end of the year will be one of the first City Hospitals in Turkey.”

Garanti Bank’s Chief Executive Officer Fuat Erbil, “We will continue to give support to all projects that will contribute to a sustainable growth of the country”

Garanti Bank’s Chief Executive Officer Fuat Erbil said: “Reforms and investments in the field of health care in our country are of utmost importance. We observe that a number of major projects are being put into life in the recent period by means of public private partnership. Eskişehir City Hospital Project also draws attention as one of the mega projects that will take our country to a powerful future. We as Garanti Bank are proud of having taken place in this project and we will continue to give support to all projects that will contribute to a sustainable growth of the country also in the future as is the case today.”

İş Bank’s Chief Executive Officer Adnan Bali, “The total loan commitment of our Bank has reached a level of US$ 800 million for PPP model health care projects”

İş Bank’s Chief Executive Officer Adnan Bali spoke as follows: “We feel happy to have cooperated in financing a new city hospital together with Akfen Group after Isparta City Hospital which will be put into service in the near future, and of having participated in the realization of such valuable projects. The total loan commitment of our Bank has reached a level of US$ 800 million for health care projects which are developed with the Public Private Partnership model, also considering the financing process of Eskişehir City Hospital. We attribute great importance to these investments which are realized on a common ground with the contribution of the entrepreneurship of the private sector and the experience and priorities of the public, in terms of providing access of individuals to necessary health care services on the spot, when needed and with aspects of high quality, besides their major contribution to achieving national targets in the health care sector without any additional burden to the public budget. In this respect, we as İş Bank consider to carry on with our interest in said investments and our financial support also in the future.”